Investors could think it is not capitalising enough on its Engenio acquisition and its object storage strategy is stalling.

Yet it has recorded consistently growing results due to shrewd executive management and great operational management. The investor doubters could be totally wrong. Yet the shares are tanking and the company is now affordable to the likes of Cisco, IBM and Oracle.

Will they jump on NetApp and give themselves much stronger clout to compete with EMC? You can see the basic logic easily enough. IBM resells NetApp filers. Cisco needs its own storage capability to be sure of prospering in a world of converged systems. Oracle's storage efforts outside its own Exa-type systems are going nowhere. If one of them pounces that would be a massive move. ®